MANILA, Philippines — The government’s budget deficit narrowed in July amid faster revenue growth, the Bureau of Treasury reported on Thursday.
Budget shortfall narrows in July
The P18.9-billion deficit — from revenues of P472.3 billion and expenditures of P491.2 billion — markedly declined from June’s P241.6-billion deficit and July 2024’s P28.8-billion shortfall.
Year to date, the budget balance remained in deficit at P784.4 billion, higher than the P642.8 billion seen in the same period last year., This news data comes from:http://www.jyxingfa.com
July revenues were up 3.26 percent from last year's P457.4billion. Taxes accounted for almost all of the month’s revenues at P423.0 billion.
Budget shortfall narrows in July
To date, revenues and expenditures were 4.82 percent and 8.22 percent higher than P2.61 trillion and P3.25 trillion, respectively, recorded from January to July last year.
- Fire breaks out in Manila residential area
- 'Strangest' dinosaur covered in spiked armory – scientists
- Thai woman jailed for 43 years for lese majeste freed
- Thai opposition's kingmaking summit fails to back new PM
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Israel army urges Gaza City residents to leave
- SC clarifies rules on land ownership
- One in four people lack access to safe drinking water – UN
